Hi there, A gift from a relative to your child is a gift under federal tax law. It doesn't become a scholarship / financial aid because the...

Hi there, At this moment, the question we should be asking is why California suddenly thinks you owe it a return after leaving the state 26...

Hi There, I generally agree with the responses above, but as an attorney CPA combo wth some experience with this subject, here is my take on...

I agree with Shawn, but wanted to provide a bit more explanation. You don’t legally need a CPA to cash out an inherited IRA. Custodians...

Hi there, Assuming it's an easy return to prepare, the return should have been completed by now. You might want to check the IRS website to...

Hi there, It depends entirely on who currently owns the business. If your father currently owns it outright, he generally has the legal...

Hi there, You can technically file Chapter 7; eligibility is determined based on a means test (income), not equity, but $125,000 of home equity...

Hi there, The answer turns entirely on who the 2012 transferor was. - If mom deeded the house to the child for $1 while reserving a life...

Hi there, Setting up a cleaning business in California is straightforward, but there are some cost considerations to examine before deciding on...

Hi there, The good news is that your sister is incorrect. Under IRC §121, your mother could exclude up to $250,000 of capital gain on the...